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4/2/21: What’s Going On

News from around the business world.
(TRMK)
(TRMK)
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“Factories around the world are struggling to keep up with soaring demand for all types of goods as the global economic recovery from the pandemic accelerates. In the U.S., factory production and product sales soared in March, according to the Institute for Supply Management, an industry trade group. Its index of factory activity—a measure that takes into account new orders for goods, production, inventory levels and commodity prices—rose to 64.7 last month from 60.8 in February. Any figure above 50 suggests industry expansion.”

“U.S. consumers spent an average of $138 on iPhone apps last year, an increase of 38% year over year, largely driven by the pandemic impacts, according to new data from app store intelligence firm Sensor Tower. Throughout 2020, consumers turned to iPhone apps for work, school, entertainment, shopping and more, driving per-user spending to a new record and the greatest annual growth since 2016, when it had then popped by 42% year over year.”

Companies Raising Capital
NameAmountDescriptions
TapTap$123 MillionPopular Game Distribution Platform
Airtel Africa$100 MillionMobile Money Business
Holler$36 Million‘Conversational Media’ In Your Favorite Apps
Pair Eyewear$12 MillionBringing More Personality To Your Glasses

“The U.S. Food and Drug Administration authorized the first Covid-19 tests for repeated, frequent use by consumers at home to screen for infections even if they don’t have symptoms.”

“Taiwan Semiconductor Manufacturing Co., a major chip supplier to Apple Inc., said it would invest $100 billion over the next three years to increase production capacity as demand surges.”

“Tiger Global Management has raised roughly $6.7 billion for its thirteenth venture fund, according to paperwork filed with the U.S. Securities and Exchange Commission first spotted by TechCrunch.”

“Amazon.com Inc. has explored opening discount retail stores selling a mix of home goods and electronics, a potentially significant expansion of the company’s growing portfolio of brick-and-mortar locations.”

“The U.K.’s antitrust regulator started an extended review of Facebook’s $400 million purchase of Giphy, saying the deal could decrease competition in the display advertising and social media markets.”

More on Facebook: “The U.S. Supreme Court ruled 9-0 in favor of Facebook that text messages alerting users of suspicious login attempts do not violate the Telephone Consumer Protection Act, which protects against unwanted calls and messages.”

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